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Wedbush initiates coverage on EPAM Systems (NYSE: EPAM) with a Outperform rating and a price target of $82.00.

Analyst Moshe Katri commented, "We are initiating coverage on EPAM with an OUTPERFORM and $82 price target, as we believe consistently impressive results continue to be driven by the company's unique model, extensive SMAC-related expertise, mission-critical work and high relevance to clients. Accordingly, we believe EPAM is well positioned to generate 25-30% C/C YOY top- line growth during FY16 and FY17, while maintaining high-teens adjusted EBIT margins. EPAM's stock currently trades at 19.7X our projected FY17E adj. EPS."

For an analyst ratings summary and ratings history on EPAM Systems click here. For more ratings news on EPAM Systems click here.